May 21, 2018

May 21, 2018 | Broker News

Zurich and Miramar underwriting agency announce partnership

Zurich Australian Insurance Limited (‘Zurich’) has partnered with Miramar Underwriting Agency (‘Miramar’) in an alliance that will see Miramar act as sole underwriting agent on behalf of Zurich for SME and mid-market machinery breakdown insurance.

Effective 1 June 2018, the machinery breakdown business will be placed via Miramar and will give Miramar an immediate presence in the SME and mid-market machinery breakdown product area in Australia, with significant opportunities for future growth. Miramar will be offering the following Zurich backed insurance products to SME and mid-market clients:

  • Engineering Plant Insurance (covering machinery breakdown)
  • Engineering Business Interruption Insurance
  • Electronic Equipment Insurance

Steve Ord, Chief Distribution Officer, General Insurance, Zurich Australia and New Zealand, commented “This move strengthens our partnership with the broader Steadfast network and provides opportunities for us to explore other offerings which are beneficial for our broking partners and aimed at placing our customers first."

Simon Lightbody, CEO of Steadfast Underwriting Agencies commented “We are excited to partner with Zurich on a portfolio which was not represented in our product suite and that aligns with our strategy of providing specialised underwriting expertise in niche markets. Zurich recognised the expertise and distribution opportunities offered by partnering with the Agencies. We will be developing a specialist team to work closely with the broking partners of Zurich and the Agencies to continue to deliver the level of service and product offering they are accustomed to under the current arrangements with Zurich. 

For further information please contact your local BRL.